RALEIGH, N.C. — Dr. Michael Thomas with Carolina Endocrine has purchased an 8,245-square-foot office space at 3840 Ed Dr. in Raleigh for $1.4 million. Cresa’s Sam DiFranco, a founding principal of the corporate real estate advisory firm, in Cary, N.C., represented Dr. Thomas and Carolina Endocrine. Janet Clayton of Grubb & Ellis’ Chapel Hill, N.C., office represented the seller, Rexview Building B LLP.<
Southeast
DELRAY BEACH, FLA. — A 2,370-square-foot Taco Bell located at 240 Linton Blvd. in Delray Beach has sold for $2.5 million. Gabriel Britti of Marcus & Millichap’s Miami office represented the seller, a Hollywood, Fla.-based private investor, as well as the buyer, a Miami Beach, Fla.-based limited liability company. “There is a very strong demand for South Florida net leased assets, especially those with strong intrinsic value,” says Britti.
ATLANTA — Maxwell Chase Technologies LLC has renewed its 49,888-square-foot industrial lease at Atlanta’s Westlake Business Park at 125 Westlake Pkwy. S.W. Matt DiLeo and Nicolai Schwarzkopf of Stream Realty Partners LP represented the landlord, DRA Advisors LLC. Stream Realty Partners assumed leasing and management responsibilities of the 1 million-square-foot Atlanta industrial portfolio owned by a fund managed by DRA Advisors in May. David Payne of ICON Commercial represented Maxwell Chase Technologies in the industrial lease renewal.
RICHMOND, VA. – The 338-unit Bramblewood Estates, an apartment community located in the Southside market of Richmond near Chippenham Parkway and Janke Road, has been sold to BH Equities, LLC, a national real estate investment firm. Mike Marshall, Drew White and Ryan Ogden of ARA Mid-Atlantic as well as Wink Ewing in the company's Richmond office represented the seller, Bramblewood Estates Associates LP, an affiliate of Beacon Communities LLC. BH Equities has acquired four properties in the Richmond market during the past 14 months. Bramblewood Estates was built in 1976.
OAKLAND AND WINTER GARDEN, FLA. – Charlotte, N.C.-based Crescent Resources, LLC has acquired the 258-acre Oakland Park residential community between the Town of Oakland and City of Winter Garden from its original developer, Castle & Cooke. Oakland Park is a certified green development by the Florida Green Building Coalition (FGBC). Castle & Cooke has developed 137 of the planned 900 homesites. Crescent Resources is the developer of a combined 240 acres of office parks as well as The Crescent at Primera and New Century Park in Lake Mary, Fla.
HIALEAH GARDENS, FLA. – Walmart has opened a new 41,000-square-foot Walmart Neighborhood Market at 11800 Hialeah Gardens Blvd. in Hialeah Gardens. Walmart’s first Neighborhood Market opened in 1998 and there are approximately 200 stores nationwide today. The location in Hialeah Gardens is open 24 hours, 7 days a week. The store also offers Site-to-Store, a free service that allows customers to ship online orders free to any Walmart store for pickup.
WILMINGTON ISLAND, GA., AND MYRTLE BEACH, S.C. – Strategic Storage Trust, Inc. (SSTI), a publicly registered non-traded REIT investing in self storage, has acquired two properties in Georgia and South Carolina consisting of approximately 1,050 self storage units for a total of $11.4 million. The sites add approximately 142,690 square feet to SSTI’s rental storage space and will be rebranded under the SmartStop Self Storage name. The acquisitions are Phase II of a three-phase acquisition of a 16-property portfolio that contains more than 1.1 million square feet and approximately 8,560 self storage units in South Carolina, Florida and Georgia. These two properties include 570 units at 4777 Highway 80 in East Wilmington Island and 480 units at 3015 Ricks Industrial Park Dr. in Myrtle Beach.
MONTGOMERY, ALA. – An 843,715-square-foot industrial building on 78 acres in Montgomery’s Westport Industrial Park has sold to HRE Montgomery 2, LLC, which will redevelop and offer space for lease in the property. Located at 4919 Westport Blvd., it is situated just off U.S. Highway 80 between Interstate 65 and the Montgomery Regional Airport. David Barber and Dan Stubbs of Binswanger’s Atlanta office represented the seller, KBT AL LLC.
MCLEAN, VA. — Dulles Landing Shopping Center, located at Route 50 and Loudon County Parkway in McLean, is officially under construction and is expected to open to the public in fall 2013. The Beatty Companies of McLean are developing the retail property and Perkowitz & Ruth is designing it. Walmart will anchor the center. Other tenants will include PetSmart, Famous Footwear, Five Below, Hour Eyes and Sleepy’s. When completed, Dulles Landing will encompass 600,000 square feet.
ROSWELL, GA. — The 81,159-square-foot, Publix-anchored Village Walk, located at 270 Rucker Rd. in Roswell, has sold for $20.4 million. The retail center was built in 2005 and redeveloped 3 years ago. It was 95.3 percent occupied at the time of the sale. Tenants of Village Walk include Chase Bank, Shane’s Rib Shack, Anytime Fitness, Dentistry for Children and Chin Chin Chinese restaurant. The Knoll-Hillis team at Newmark Grubb Knight Frank Capital Group in Atlanta represented the seller, while the Prudential Variable Contract Real Property Partnership purchased the shopping center.